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Iowa State AD Pollard: Deficit coming out of '21 not as large as anticipated

Iowa State AD Jamie Pollard is "confident" ISU athletics is in "good financial shape going forward," according to Matt Belinson of the student newspaper IOWA STATE DAILY. Pollard had initially estimated the department would be facing a $25M deficit coming out of the '21 calendar year -- with COVID-19's impact from the previous year "still looming large." The department projected $51M in operating revenues and $63M in operating expenses for '21, expecting to "end the year at a $25 million shortfall to service." Instead of the previously estimated $25M debt shortfall, Pollard said that ISU actually came out of '21 with only a $17M deficit. The department earned $67M in revenue in '21, while using $84M in operating expenses -- thus, a $17M shortfall. Pollard said that debt is "no longer an issue," as the department paid the deficit off using "only its reserves and didn't need to take out a loan from the university." Pollard added that things could be "a little tighter from an operations standpoint, but not as tight as they could have once been," with original projections of the deficit being close to $50M at one point. Iowa State was budgeted to receive $36.5M from the Big 12 from this season's football TV contract, but each school earned $33.5M (IOWASTATEDAILY.com, 1/17).

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